I will chime in here. I have a friend who I have been helping build his 2-rail O scale layout for a while and have looked at purchasing a 2-rail O scale locomotive that I could run on his layout. Of course I can run his equipment and don't really need to purchase a 2-rail locomotive, but then after reading about BPRC I decided to research the possibility of having a locomotive that would run on his layout and my 3-rail layout.
The victim: my K-Line Plymouth locomotive.
I have replaced/re-gauged the wheels with Atlas 36" 2 rail freight wheels. These wheels have slightly deeper flanges then RP-25 O scale wheels and will navigate my Atlas 3-rail layout (including a couple sections of Lionel tubular rail). This solves the physical issue of running a piece of equipment on both of our layouts.
Since 2-rail and 3-rail track systems are completely different electrically, I need something to power and control the Plymouth independent of power systems. In this case it's DCC vs. TMCC. The BlueRail technology seems to be the right fit for me with a battery on board. The motor in the Plymouth is comparable to an HO locomotive (and the stall current is well below the 2 amp limit on the control board), so really any kind of HO BPRC system would work here, electrically and fit under the hood.
I will be rebuilding the body shell from blueprints to a 1922 Plymouth that my local club has so there will be no issues with reusing the die cast body shell and having interference with the Bluetooth signal. I will use the frame, and let me tell you, K-line did a great job painting it!
Switching on both layouts will be accomplished with Kadee 806 couplers. These couplers will mate to "the claw" on my layout and the Kadee couplers on my friend's layout.
I know this is a very small niche to be in, but I'm glad there is technology that will support my decision. I'm getting ready to purchase the control system as I have finished testing the drivetrain on both layouts (with a 9 volt battery). If anyone is interested in this, I will start another thread. 
Larry
ps. My apologies to anyone who takes offense with me "destroying" the K-Line Plymouth. In my defense, I'm glad I opened it up - the smoke unit was suffering from zinc rot. 
